Shares of Zen Technologies Ltd. surged by 5% to a day’s high of Rs 1,876.70 on 26th August, following a successful Rs 1,000 crore fundraising through its first-ever qualified institutional placement.

The QIP launched on 21st August 2024 and concluded on 23rd August 2024 was highly successful, with demand five times oversubscribed. This significant investor interest underscores strong confidence in Zen Technologies’ growth potential.

The company had allocated 62,46,096 equity shares with a face value of Rs 1 each to qualified institutional buyers at Rs 1,601 per share. This price was about 5% lower than the QIP floor price of Rs 1,685.18 per share, as decided by the SEBI regulations.

The major investors included Kotak MF, White Oak Offshore Fund, White Oak MF, Motilal Oswal MF, and Bandhan MF, among others.

For the quarter ending June, the company’s net profit rose by 92% to Rs 74.18 crore, with operational EBITDA increasing to Rs 103.2 crore from Rs 66.17 crore last year.

The total order book is valued at Rs 1,158.54 crore, mostly from training simulators and anti-drone systems. R&D expenditure for Q1 FY25 was Rs 6.99 crore, with plans to optimize the business model to enhance profitability and reduce volatility.

They recently launched four new products: Hawkeye anti-drone system, Barbarik URCWS, Prahasta quadruped, and Sthir Stab 640 sight, aiming to create new revenue streams.

The company’s shares have surged over 136% YTD, significantly outperforming the Nifty 50’s 12% rise.

At 2:20 PM, the shares of Zen Tech were trading 5% higher at Rs 1,876.70 on NSE.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!